Which Organization Best Serves the Professional Needs of a CPA

question 67

Multiple Choice

Which organization best serves the professional needs of a CPA?

• A)FASB.
• B)AICPA.
• C)SEC.
• D)AAA.

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Definitions:

Current Liability

Short-term financial obligations that are due within one year or within a normal operating cycle.

Current Assets

Assets expected to be converted into cash, sold, or consumed within a year or within the operating cycle of a business.

Federal Unemployment Taxes

Taxes paid by employers to fund the federal government's oversight of the state unemployment insurance programs.

Gross Pay

The total earnings of an employee for a payroll period.